| |SEPTEMBER 20269The largest industrial carbon capture facility in Europe was officially opened at Yara's site in Sluiskil, Netherlands. The initiative creates the inaugural comprehensive cross-border value chain for capturing, moving, and permanently storing CO (CCS).The ceremony was highlighted by the attendance of Norwegian Prime Minister Jonas Gahr Støre, Dutch Prime Minister Rob Jetten, European Commissioner for Climate, Net Zero and Clean Growth Wopke Hoekstra, along with Yara International's President and CEO, Svein Tore Holsether."This day is significant for Yara and for the European industry. The carbon capture plant in Sluiskil demonstrates that industrial decarbonization on a large scale is achievable today. With global competition rising, Europe needs to identify methods to reduce emissions while maintaining industry, employment, and essential value chains within Europe. This project is precisely what it's all about," states Svein Tore Holsether, President and CEO of Yara International.Yara Sluiskil, the largest ammonia and fertilizer facility in Europe, can capture and liquefy up to 800,000 tons of CO each year from ammonia manufacturing, thus evading carbon taxes on these quantities. The CO will be shipped to Norway, where Northern Lights will permanently store it below the seabed. A recent report by credit insurer Allianz Trade states that the rise of artificial intelligence, along with the increase in renewable energy, will transform Europe's energy industry.The Energy & Solar report highlights that AI may 'emerge as the key growth catalyst for the European energy industry thus far,' driven by rising energy demand and the growth of renewable energy sources.Nonetheless, the industry will encounter a `challenging balancing act', supported by substantial investments in new capabilities and the upkeep of current assets, ongoing variations in electricity prices, and geopolitical uncertainties.For instance, although wind and solar are reducing Europe's dependence on fossil fuel imports, the region continues to depend on other areas globally ­ particularly China ­ for batteries, solar panels, storage solutions, and other essential technologies."Today, renewable energies represent much more than merely a means for decarbonisation," stated Milo Bogaerts, CEO of Allianz Trade for Germany, Austria, and Switzerland. "They are transforming into a tactical barrier against geopolitical disturbances and the unpredictability of fossil fuels". AI AND RENEWABLES POISED TO TRANSFORM EUROPE'S ENERGY SECTORENERGYYARA INAUGURATES EUROPE'S LARGEST CARBON CAPTURE PLANTJacques Delors, Erstwhile President of the European CommissionCome on, be brave, the European Spring is still ahead of us
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